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Energy World Corporation finds expected gas column at Indonesia well

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Energy World Corporation (ASX: EWC) has intersected a 300 foot column at its Walanga-2 Twinning well in the Sengkang Production Sharing Contract, South Sulawesi, with gas layer content and pressures in line with expectations.

Walanga-2 is the first of four wells the company is drilling to provide initial feedstock gas for its Sengkang Modular LNG project.

Tubing and wellhead equipment are currently being installed in preparation for commercial production before the rig is released to drilling the Walanga-3 well.

Information from the drilling program will be used to re-evaluate and update its gas reserves at the Wasambo area.

The company is also waiting on results of a seismic program completed earlier this year in other locations within the Sengkang PSC that will identify the next drilling prospects.

 

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Price: 0.085 AUD

ASX:EWC
Market: ASX
Market Cap: $152.63 m
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